Our firm provides a full charge bookkeeping service including general journal and subsidiary ledger maintenance, bank statement reconciliation, payroll, and accounts receivable/payable.Whether you need regularly prepared financial statements, need assistance in any of the aforementioned areas or need someone to monitor or review your internal accounting staff, we can assist you
Most small-medium size business's (especially closely held and non publicly traded companies) it usually is not necessary for you need Reviewed or Audited Financial Statements. In these cases we will produce Assembled or Compiled Financial Statements for a fraction of the cost of the of the audited or reviewed statements. These Assembled and Compiled Financial Statements generally include only a Profit and Loss Statement and a Balance Sheet of the enterprise. They omit footnotes and most of the related financial statements ( i.e. Statement of Cash Flows and Statement of Retained Earnings ) that if included would provide more detailed financial information about the company and we provide no form of assurance on them. We will provide these statements on a monthly, quarterly or any other frequency as desired. These statements are usually provided for internal and management use with limited external use.
Due to the extreme liability and legal issues involved with Reviewed and Audited Financial Statements, our firm does not directly issue these statements. We have made arrangements with a reliable, local CPA firm that we have been associated with in the past, to prepare these statements on behalf of any of our clients that may need or want these financial statements. Reviews would be the next level above Compilations and Audits would provide the best level of assurance as to the accuracy of the financial statements.
Reviews and Compilations
See section under Financial Statements.
Cash Flow & Budgeting Analysis
Have you ever asked the question, where does all my money go? If you have, your not alone. Many successful and profitable business owners have also asked this question at one time or another. In this uncertain day and age, with increased competition, a questionable economy and increased costs of doing business, more and more business owners are seeking the advise of CPA's and others, to help improve the bottom line. Two useful tools in providing this guidance involves the use of budgeting and cash flow analysis. We can also provide a detailed comparison of income and expense items from period to period. We may be able to spot unusual items such as cost overruns, under billing on accounts, overcharging by vendors or lost discounts. Based on our experience and background, we may be able to spot things you or your employees may not be able to. Many people do not understand all the areas that a CPA may be able to help.
Accounting & Tax Aspects of Starting a Business
Thinking of starting a new business or have you recently started one? Starting a new business is exciting but there are also many pitfalls as well. We can help advise you of the things you should be doing and the things you should not be doing to avoid potential problems with the IRS, the Florida Department of Revenue or other taxing agencies that may apply to your situation. What accounting records are required? Do you have employees or independent contractors? Do you need a Federal identification number, a sales tax number and what are your licensing requirements? Should you incorporate or not? What are legitimate deductions and what are questionable items? We can help you answer these questions and many more.
Our firm offers complete payroll preparation and tax reporting services. We prepare all federal and state returns relating to your payroll on a timely basis. If you prepare your own payroll in house, we can perform after the fact payroll services including filing of payroll returns, W-2's and 1099's. We can advice you on the latest withholding rates or we can prepare your employees paychecks on your behalf, each payday. We can assist you in determining whether leased employees may be of benefit to you and whether you can get a better workers compensation rate elsewhere. Do you know the IRS definition of employee vs. independent contractor? Do you know ways to legally hire your wife or kids to save on your taxes? Are you doing anything that may get you in hot water? Are you filing all the forms you should be filing? These are just some of the areas where we may be able to make your life easier.